Total Acquires Dai Viet Energy

Phu Nhuan Jewellery Joint Stock Company (PNJ) on June 29, 2012 transferred its stake in Dai Viet Energy Co., Ltd to Total Group in Ho Chi Minh City.

 

The acquisition helps Total strengthen its position in the local liquefied petroleum gas (LPG) market. Dai Viet Energy operates an LPG distribution network in the southern area under the brand Vinagas as well as three LPG filling facilities in HCM City, Vinh Long and Dak Lak provinces.

 

Through this deal, Total consolidates its leading position as the largest multinational oil group operating in the Vietnam market and confirms its strong commitment to energy supply in Vietnam.

 

Operating in over 130 countries and territories in the world and making present in Vietnam for 20 years, Total is a strong player in the LPG market, with a market share of above 10 percent nationwide, especially in HCM City and Mekong Delta where it operates seven filling plants from Haiphong to Can Tho. The company markets in Vietnam such LPG brands as Totalgaz, Elf Gaz, Saigon Gas and now Vinagas.